Federal Bank has entered into partnership with Transfast Remittance LLC for facilitating online inward remittance to India in rupees for NRI customers in the US. Transfast is a leading omni-channel provider of cross-border payment solutions to consumers around the world.
With this tie up, US- based NRI customers would be able to transfer money instantly to their NRI account in India from their US bank account even by using debit/credit card. Customer can avail this service by downloading Transfast App in iOS/android mobiles or by creating an account on https://transfast.com/send-money-to-india.
With this facility, customers can choose from two products -- Fastrack and Value+. Fastrack enables credit within zero to 24 hours at a transfer fee of just $4.99. There is no transfer fee if the amount is $1,000 or more. In Value+, the credit will happen at higher exchange rate with no transfer fee, but with a delay of 3 to 5 business days.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India.
